MERGER, RESTRUCTURING, AND OTHER ACCRUALS (Tables)

6 Months Ended

Jun. 25, 2016

Summary of Major Components of Merger, Restructuring and Other Operating (Income) Expenses, Net

The table below and narrative that follows summarize the major components of Merger, restructuring and other operating (income) expenses, net.

	Second Quarter					First Half
(In millions)	2016			2015		2016			2015
Merger related expenses
Severance, retention, and relocation	$	—		$	6	$	—		$	11
Transaction and integration		11			29		22			53
Facility closure, contract termination, and other costs, net		14			29		17			15
Total Merger related expenses		25			64		39			79
International restructuring and certain other expenses
Severance and retention		1			20		5			25
Integration		—			2		—			4
Other related expenses		3			—		4			6
Total International restructuring and certain other expenses		4			22		9			35
Staples Acquisition (income) expenses
Retention		15			29		18			35
Transaction		19			5		41			14
Termination Fee		(250	)		—		(250	)		—
Total Staples Acquisition (income) expenses		(216	)		34		(191	)		49
Total Merger, restructuring and other operating (income) expenses, net	$	(187	)	$	120	$	(143	)	$	163

Facility Closure and Severance Costs

The activity in the merger and restructuring accruals is presented in the table below.

			First Half 2016
(In millions)	December 26, 2015		Charges Incurred			Cash Payments			Currency, Lease Accretion and Other Adjustments			June 25, 2016
Termination benefits
Merger related accruals	$	16	$	—		$	(4	)	$	(2	)	$	10
European restructuring plan		42		—			(16	)		2			28
Other restructuring accruals		1		4			(4	)		—			1
Lease and contract obligations, accruals for facilities closures and other costs
Merger related accruals		77		14			(37	)		3			57
European restructuring plan		1		—			—			—			1
Other restructuring accruals		25		1			(8	)		1			19
Acquired entity accruals		25		(2	)		(3	)		2			22
Staples Acquisition related accruals		72		19			(75	)		(1	)		15
Total	$	259	$	36		$	(147	)	$	5		$	153